It’s always important to be on the lookout for new business opportunities, but for some companies it’s not easy to identify prospects, turn them into genuine leads and then, most importantly, convert them into clients or subscribers.
Many small, ambitious companies that are hungry for growth are limited for sales or business development resource rely on their management team for generating interest in their products or services, before they are able to employ an internal business development resource. During this crucial period, it is essential to refine skills in finding and capitalising on new business opportunities. This will result in increasing revenue and growing the company, but knowing how and when to target these leads can be just as difficult as finding them in the first place.
The same can be said for companies who are approaching the end of a series of projects or contracts, and who may be on the lookout for new business opportunities to replace them. Fortunately for both, Meet Hugo is a platform that can source new leads and provide vital sales intelligence that can open doors and start conversations with prospects.
Here we’re going to explain just how our subscribers can use Meet Hugo to identify hot prospects, and to use our platform as an extension of their internal new business department.
Search by sector
Previous lead generation methods may have been fairly scattergun in their approach, resulting in leads coming in from all kinds of sectors and businesses, many of which you may never have worked with before and have little or no experience and case studies to call upon to help with your pitch.
This can leave you scouring all kinds of tools and data sources in order to identify opportunities and campaign ideas in order to get a vital piece of new business through the door because you’re reaching the end of current projects or contracts. With Meet Hugo you can cut through the opportunities in sectors that you don’t want to work in at that moment, going straight to your areas of strength.
You may already have a number of sectors where you are particularly strong – such as design, real estate or perhaps social media – and our sales intelligence platform enables you to filter all of the current new business opportunities by the sectors that let you play to your strengths, increasing your chances of wowing the prospect in your initial enquiry and making it to the all-important pitch phase.
Search by the type of opportunity
Meet Hugo also enables you to filter the current new business opportunities by the type of opportunity. For instance, some are genuine contracts up-for-grabs at that moment, known as requests for proposals or tenders. Here the prospect lists the type of work that they have available such as a marketing project or a requirement for web development, along with when they would like the contract to start or its estimated duration. This enables you to pull together a detailed proposal outlining how you will deliver exactly what they are looking for, getting you around the boardroom table more quickly than other types of opportunities.
These might include slightly less warm leads such as intelligence opportunities, which are often potential new business campaigns where a prospect might be looking for certain services but are not necessarily looking to award a contract right at the moment.
Why should this interest you? Well, it enables you to get a foot in the door with the prospect by reaching out to them and showcasing exactly what you can do to meet their needs and within their estimated budget. Then, if they decide that they wish to go ahead by putting a contract out to tender, you already have an advantage over your competitors because you have built the relationship and delivered a campaign outline that may just need a few adjustments in the final pitch.
Another type of warm rather than hot opportunity is a job move, where our sales intelligence provides you with the company and the job role that they have recently announced, where you can reach out to them and perhaps congratulate them on their new job before starting a conversation about how you can help them to put their own stamp on the company by appointing you to deliver a particular service.
There are a lot of experienced professionals who like to come into companies and overhaul their external contracts and relationships, either appointing previous partners from their old company or even looking to bring in new partners to fill a gap in the internal offering that may never have been considered before, but would benefit the company in the short or long-term by allowing them to reach out and bring in new business because of a new set of skills and resources, or by improving internal processes with a new suite of tools and team of experts.
Search by location
Another key consideration for new business teams is the location of the prospect. Working across time zones and with clients around the world can be every bit as challenging as working with clients several hours away in the same country, but it can also be as rewarding when it comes to expanding your reach as a company.
Whatever your preference for new business, Meet Hugo enables you to search based on the location of the opportunity. We enable you to set your criteria to deliver opportunities in countries such as the USA, Canada, the UK, Australia and right across Europe; enabling you to pick up projects that are nearby so you can deliver the personal touch when it comes to meetings and presentations, or reach out to companies across the globe in order to keep your brand growing and deliver something for a client that a local company may not be able to offer.
When you’re looking for hot prospects it may be that you have to extend your reach away from certain sectors or the city where you’re based in order to bring new business through the door. However you choose to look at it – in terms of expanding your reach and brand into new areas or pushing yourselves to deliver new campaigns for companies in areas of the country where you’re relatively unheard of as a company – these are hot prospects to target and build relationships with prior to pitching and winning the business, rather than cold leads that might go nowhere at all. You have as much chance as any other company of winning the business.
Search by estimated value
There are a lot of companies who have minimum requirements when it comes to the types of contract they might target, and there are companies who have ceilings in terms of how much they can afford to spend on a project. With Meet Hugo you can filter your new business opportunities according to how much you can afford to spend on the work, and how much the prospect is willing to spend on the work.
If you can’t do a project for less than $1,000 or your minimum contract is £1,000 per month, you can remove these from your account so that you only receive hot leads that you can genuinely work with and benefit from. At the end of the day, new business is great but you need to ensure that you’re actually making a profit from the work!
Search by closing date
Finally, we know that a lot of new business searches begin as existing contracts start to reach their conclusion. Finding replacements for these contracts can be difficult, and you might not want to start the work immediately – bringing in a like-for-like replacement in two months’ time for example – and Meet Hugo enables you to adjust your opportunities to fit your own availability and calendar.
You might not have the resource to do the work at this exact moment, but a project that is available in two months might be the ideal opportunity to target – especially if you can appoint more staff in that time or use the new business to replace a project that is ending or a contract that won’t be renewed.